Acquisitions bolster Real Goods’ earnings

LOUISVILLE – Real Goods Solar Inc. (Nasdaq: RSOL) this week reported revenue of $34 million and a net loss of $2.1 million for its third quarter ending Sept. 30.

The revenue marked a 64 percent increase compared with the second quarter and a 29 percent jump compared with the third quarter of 2012 for the Louisville-based company.

The net loss amounted to 7 cents per share and was an improvement compared with the $39 million loss for the same quarter last year, reflecting higher revenue and lowered operating expenses.

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Real Goods had a busy third quarter, acquiring residential solar company Syndicated Solar in August and signing an agreement to purchase Mercury Energy in a deal valued at about $20 million.

The company’s financial statements this week noted that Real Goods projects fourth-quarter revenue between $34 million and $39 million.

“In the third quarter of 2013, our continued focus on growth, productivity and cost management resulted in dramatic top and bottom line improvements sequentially and year over year,” Real Goods Solar chief executive Kam Mofid said in a press release.

“The integration of Syndicated has substantially increased our capabilities, resulting in record backlog of residential projects as we began the final quarter of the year. The strong continued growth in sales and installation backlog has created some short-term capacity constraints, particularly in engineering and construction. While this is expected to affect revenue growth in the fourth quarter, it leaves us strongly positioned as we enter 2014.”